Srinagar, Nov 26: Shopian Police have registered a formal First Information Report (FIR) in connection with a large-scale bank fraud at the Jammu and Kashmir Bank branch in Turkawangam, Shopian district, with multiple arrests anticipated in the coming days.
The case, registered under FIR number 104/2024 at the Zainapora Police Station, emerges from a series of fraudulent withdrawals that first came to light in August, causing widespread concern among local bank customers.
As per the news agency—Kashmir News Observer (KNO), the initial instance of fraud was discovered in the account of Mohammad Yousuf Shah, where the entire balance was withdrawn a day after his death on January 14, 2019.
His daughter Zarifa alleged that approximately Rs. 5 lakh was embezzled and transferred to multiple bank accounts associated with Mudasir Hassan Shah, a local resident.
Further investigations revealed a more extensive pattern of financial irregularities. An elderly citizen, Abdul Ghani Lone, reported the unauthorized withdrawal of Rs.1.77 lakh from his account.
Subsequently, customers from surrounding villages including Nuley Poshawari, MalDher, Sugan, and Tarkawangam discovered their accounts had been systematically emptied.
Initial bank actions included recovering Rs. 3.5 million from various accounts and immediately attaching an employee suspected of involvement in the fraudulent activities.
Local legal luminaries have been instrumental in bringing the matter to light. Advocate Mohsin Nabi filed a complaint under Section 316(5) of the Indian Penal Code, while social activist and lawyer Dr. Bari obtained detailed statements from affected customers.
A senior police officer, speaking on condition of anonymity, confirmed that the investigation is progressing comprehensively, with multiple arrests expected in the near future.
The incident has sparked outrage among local residents, who are demanding swift and stringent action against those responsible for the widespread financial fraud—(KNO)
